Heineken Paying $4B for Stake In Asia-Pacific Breweries

By Nish Amarnath | August 03 2012 10:37 AM

Dutch brewer Heineken (PINK: HINKY) said Friday it will pay about $4.08 billion to Singapore-listed conglomerate, Fraser and Neave (SGX: F99), for its stake in Asia Pacific Breweries (SGX: A46), one of Asia's largest beer companies.

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Heineken, which already holds a stake of 42 percent in Asia Pacific Breweries, will now own an additional 40 percent in the beer company. The Dutch company's agreement with Fraser and Neave follows a failed bid by Thai Beverage to acquire some of Fraser and Neave's stake in Asia Pacific Breweries.

In mid-morning trading on Friday, American Depositary Receipts of Heineken were up $1.15, or 4.24 percent.